Stefanovitch 0 Posted April 27, 2010 Share Posted April 27, 2010 It is October all over again with the same hearsay being displayed. We've all been worried about the state of the club for a long time now and any tax investigation is just one more box to be ticket in the negativity stakes. Yet, 6 months down the line from the last predictions of doomsday, the tactics are still the same. What are we to do here? We're all adults; tell us and we may be able to formulate some kind of plan. If Dave King is so concerned, fly back here, meet with the fan groups, meet with the fans, get player/managerial support and then take action. Anything else is not enough. Absolutely spot on. Someone has to take leadership, someone who has inside knowledge and a vested interest. Otherwise we'll be here in a years time bemoaning the fact we've lost out on the league and the champions league after 3 years of 0 investment and a 4th on the way. 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,329 Posted April 27, 2010 Share Posted April 27, 2010 BD - I don't buy the 100M nonsense for one minute. But even looking at 30M, the figures just don't add up surely with some of these stories talking about very large figures of money being required by the bank asap. Why would the bank be trying to get back large repayments on what is a going concern, I thought there was a repayment plan and a business plan in place and agreed? At least that's what we get told by one side, then we get stories like this one and comments from Walter which would suggest the exact opposite. The repayment plan of �£1m pa in the loan of �£20m is certainly as it stands at the moment. tt could be that the bank want to eliminate or reduce the credit facility, or they just agreed to �£1m based on non-CL qualification and other repayments kick in (although this is unlikely given the disclosure in the accounts) or there are infomal agreements that have still to be formalised. Who knows. If we take what we have been told by AJ at face value than we do not have a problem, and the noises now are very similar to the apparent games that were being played back in October, mixing truths with misinformation. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,148 Posted April 27, 2010 Author Share Posted April 27, 2010 What is obvious is that it is far from clear if any offence has been committed let alone punished yet. The hysteria being created without an alternative course of action really is irresponsible. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,148 Posted April 27, 2010 Author Share Posted April 27, 2010 As always Carino's opinion is worthy of rumination on FF: From 2001 Rangers have been paying employees elements of their salaries via trust funds - The Rangers Employee Benefit Trust and the Murray Group Management Ltd. Remuneration Trust. Payments to the trusts were first made in 2001 and have continued since thus: 2001 - �£1.01 million 2002 - �£5.17 million 2003 - �£6.79 million 2004 - �£7.25 million 2005 - �£7.24 million 2006 - �£9.19 million 2007 - �£4.9 million 2008 - �£2.29 million 2009 - 2.36 million. All of which makes a publically declared total of �£46.28 million signed off on by professional people. Darrell King is as ever not really delivering much in the way of new information - the HMRC query to the club having been trailed by James Mulholland in the News of the World last Sunday. Time will be the eventual judge but today's King piece has the hallmark of the vested interest - as has much of his recent work on Rangers. 0 Quote Link to post Share on other sites More sharing options...
rbr 1,247 Posted April 27, 2010 Share Posted April 27, 2010 It is October all over again with the same hearsay being displayed. We've all been worried about the state of the club for a long time now and any tax investigation is just one more box to be ticket in the negativity stakes. Yet, 6 months down the line from the last predictions of doomsday, the tactics are still the same. What are we to do here? We're all adults; tell us and we may be able to formulate some kind of plan. If Dave King is so concerned, fly back here, meet with the fan groups, meet with the fans, get player/managerial support and then take action. Anything else is not enough. sorry Frankie not being picky but I thought is passport had been handed over 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,148 Posted April 27, 2010 Author Share Posted April 27, 2010 Club confirms investigation and pending court case... Rangers today confirmed they are under investigation from HM Revenue and Customs over offshore payments made to players. The case could see the club hit with a backdated tax bill running to millions of pounds. A spokesman for Rangers said: ââ?¬Å?The Club can confirm that there is a ongoing query raised by HMRC which is part of a pending court case. "On the basis of expert tax advice provided to Rangers, the Club is robustly defending the matters raised. It would be therefore be inappropriate to comment further at this stage. ââ?¬Å?There is endless speculation about the future of the Club, much of it ill-informed. It is to no-oneââ?¬â?¢s benefit to comment on every speculative opinion.ââ?¬Â A source today confirmed to the Evening Times what the implications could be and conceded the club is ââ?¬Å?unsellableââ?¬Â unless any prospective buyer is given a written warranty that any sums owed to HMRC ââ?¬â?? once the investigation is complete ââ?¬â?? will be picked up by its banker, Lloyds, or the clubââ?¬â?¢s owner, Murray International Holdings. The payments, which began a decade ago to some of Rangers biggest stars, are believed to have been made into an employee remuneration trust. This is a controversial loophole that has seen the taxman launch investigations into a string of English Premiership clubs who have also used the same payment methods in playersââ?¬â?¢ contracts, along with payments for image rights. http://www.eveningtimes.co.uk/news/editor-s-picks-ignore/taxman-targets-rangers-1.1023503 0 Quote Link to post Share on other sites More sharing options...
Bluedell 5,329 Posted April 27, 2010 Share Posted April 27, 2010 All of which makes a publically declared total of �£46.28 million signed off on by professional people. That's an important fact. The auditors have signed off on it without the need for additional provisions in the accounts and presumably the club took professional advice when setting them up. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,148 Posted April 27, 2010 Author Share Posted April 27, 2010 sorry Frankie not being picky but I thought is passport had been handed over May well have been. However, I'm sure he has someone who can act on his behalf - and video conference calls are easily organised nowadays. 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,148 Posted April 27, 2010 Author Share Posted April 27, 2010 That's an important fact. The auditors have signed off on it without the need for additional provisions in the accounts and presumably the club took professional advice when setting them up. Indeed - which is why I'd be very surprised if several different parties had made a mistake here. Would others also be liable to Rangers for giving bad advice? 0 Quote Link to post Share on other sites More sharing options...
rbr 1,247 Posted April 27, 2010 Share Posted April 27, 2010 May well have been. However, I'm sure he has someone who can act on his behalf - and video conference calls are easily organised nowadays. Considering what we are going through it was a silly post on my part , , the interesting thing about King is his sticking to �£18 million plus �£1 for Murray's shares , hopefully this is all posturing and empty threats , however this is a very very dangerous game we are playing , and there are alot of threats being thrown about that eventually will need to be either backed up or humilliatingly backed away from 0 Quote Link to post Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.